Financial feasibility of universalization of complete social security programme

Abstract

Government over the years in India, have strived towards fulfilling the basic needs newlineof a common man in India and taking care of their well-being. Well-being or welfare of newlinethe citizens is a broad-range term which includes activities ranging from ensuring a healthy life and have them a secure old-age by allowing them meeting their expenses at the time they are helpless and not able to make the two ends meet by themselves. This is an newlineimportant requirement and becoming more important by-passing years. The basic components of the preparing to face the unfortunate events in life includes, access to medical care, means of living in old age, mitigating the risk due to the death of bread earner in the family etc. The present and past governments in India have been working towards that and lot of institutions and individuals (both government and private) have been working relentlessly to achieve this objective which was once considered a long-term, but it s the need of the hour today. We have past sixty-seven years of independence bearing a tag of developing nation a promising market for world-class newlineorganizations, home to most-of-the-best minds in business and technology. Still, it s an newlineirony that we have miles to go to provide those basic needs of a person in India a right to lead a life in a reasonably healthy condition by way of helping him overcome some of the basic uncertainties the life. The need to Life Insurance, Health Insurance, Old age pension and Maternity benefits has been identified as a need for India. We took up to understand, analyze the existing assistance with respect to these, find out how they fare in terms of improving the condition and come up with suggestions or proposals to make them effective. We have come up with the detailed calculations which would concretize the proposals and also give a clear picture in terms of the budgetary load which these schemes would have. newline